What’s that? You think the rich are paying their fair share? Umm
From the New York Times:
It so happens that this summer the Internal Revenue Service released data from the 400 individual income tax returns reporting the highest adjusted gross income. This elite ultrarich group earned on average $202 million in 2009, the latest year available. And buried in the data is the startling disclosure that six of the 400 paid no federal income tax…
[The] data demonstrates that many of the ultrarich can and do reduce their tax liability to very low levels, even zero. Besides the six who paid no federal income tax, the I.R.S. reported that 27 paid from zero to 10 percent of their adjusted gross incomes and another 89 paid between 10 and 15 percent… So more than a quarter of the people earning an average of over $200 million in 2009 paid less than 15 percent of their adjusted gross income in taxes.
Our schools are struggling, public safety has been slashed, and basic health care services for our seniors and people with disabilities have been drastically reduced. So, yeah, forgive us for thinking the rich don’t need any more tax breaks at the expense of our community needs.
But here in Oregon, that is exactly what Kevin Mannix is proposing. The Oregon Estate Tax Repeal (Measure 84) is a new tax break for the wealthiest Oregonians and will force the state to make cuts to vital services like education, health care, and public safety. Mannix has made his priorities clear: tax breaks for the rich are more important that funding our shared community needs, like schools.
So when you cast your ballot this November, it’s important to ask yourself: What are your priorities? Do you think the rich need more tax breaks? Or do you believe we should preserve stable funding for our schools and other important community services by saying ‘no’ to Measure 84?